Americas Most Expensive home for sale

[Fosgate]

I was sold the moment I saw the cigar lounge. Suppose they would take a check?

 

https://fb.watch/bZz0faeesI/

 

[Cayman17]

I wish they had shown the walk in humidors a little.  

[Ford2112]

Place looks like an airport. What a waste. 

[BrightonCorgi]

3 minutes ago, therealrsr said:

Interior design was clean but very cold.

Agreed.  Nice, but not my ideal. 

[jakebarnes]

The only room I liked was the cigar lounge. Modern design doesn't do it for me. 

[Islandboy]

Gross...ludicrous...cold...reckless. Words I would use to describe this.

[NSXCIGAR]

What a joke of a project. Cost them 180 million and sold for 141 million and the developers were in bankruptcy. Any fool that gave money to these idiots to build this monstrosity thinking it would sell for 500 million deserves to lose it. Could have built two or even three very nice homes that would have made them money on that lot. 

BTW, property taxes on that will be $147,000 per month.  

[Ford2112]

Or that money could be used to help people instead of feeding some rich ego.

[Kitchen]

The problem with such a house like this is that whoever can afford to buy can also just build exactly what they want ground up.  So, from that type of buyer's perspective, why bother buying someone else's vision when you can have your own instead.  

Unless the property has some historical significance, they are always going to loose money on a property like this.  

As Hemingway said, "Gradually, then suddenly."  

[DixeyJ]

We can't talk with the current UK market, but I will never understand US property. It's either stupidly reasonable (a 5-6 bed for $200-300k or hundreds of millions) 

[Islandboy]

1 hour ago, NSXCIGAR said:

BTW, property taxes on that will be $147,000 per month.  

Not to mention basic maintenance, which I can tell you will be in the millions annually.

[Corylax18]

43 minutes ago, DixeyJ said:

We can't talk with the current UK market, but I will never understand US property. It's either stupidly reasonable (a 5-6 bed for $200-300k or hundreds of millions) 

Location, Location, Location. 

[...]

The hubris of capitalizing on a momentary market with long-term ambitions will always be open to being wrecked by sudden market swings, I would give kudos for the marketers' balls but they are so exposed that failure could have easily been forecasted

[LLC]

6 hours ago, therealrsr said:

Interior design was clean but very cold.  On a positive note, late night fridge raids would be guiltless because the trek would burn off the calories.

Maybe he got them to throw in the things they were riding around on 😂

[NSXCIGAR]

6 hours ago, DixeyJ said:

We can't talk with the current UK market, but I will never understand US property. It's either stupidly reasonable (a 5-6 bed for $200-300k or hundreds of millions) 

Actually, of the 20 most expensive homes ever sold only one is in the US. And they aren't hundreds of millions of dollars in the US. Most expensive home ever sold in the US is the Further Lane Beachfront Estate in The Hamptons for $147 million. Next highest in the US would be $120 million. This OP home would be number two all time in the US at $141 million, although I'm seeing some reports that the home actually auctioned for $126 million, although that would still make it number two all-time.

World's most expensive is the Pollock's Path property in Hong Kong at $361 million but on a technicality. The property was actually multiple lots adjoined with 8 luxury apartments and the buyer will receive a refund of $93 million for redeveloping it. 

In the US you're going to get those numbers only in the greater Beverly Hills area (which this is) or the Hamptons. There are some in NYC and Silicon Valley for obvious reasons but the most expensive in NYC was $100 million. There is a $110 million in Malibu but that is rare. Everything's developed there and the likelihood of purchasing two or more adjoining lots to develop a monster home is very low. Not much turnover in that Carbon Beach area. 

[DixeyJ]

11 hours ago, Corylax18 said:

Location, Location, Location. 

I mean sure that's a given! Still the differences still seem mad

 

5 hours ago, NSXCIGAR said:

Actually, of the 20 most expensive homes ever sold only one is in the US. And they aren't hundreds of millions of dollars in the US. Most expensive home ever sold in the US is the Further Lane Beachfront Estate in The Hamptons for $147 million. Next highest in the US would be $120 million. This OP home would be number two all time in the US at $141 million, although I'm seeing some reports that the home actually auctioned for $126 million, although that would still make it number two all-time.

World's most expensive is the Pollock's Path property in Hong Kong at $361 million but on a technicality. The property was actually multiple lots adjoined with 8 luxury apartments and the buyer will receive a refund of $93 million for redeveloping it. 

In the US you're going to get those numbers only in the greater Beverly Hills area (which this is) or the Hamptons. There are some in NYC and Silicon Valley for obvious reasons but the most expensive in NYC was $100 million. There is a $110 million in Malibu but that is rare. Everything's developed there and the likelihood of purchasing two or more adjoining lots to develop a monster home is very low. Not much turnover in that Carbon Beach area. 

I'll admit I was being hyperbolic, but what I meant was it's less the overall price and more that you can get similar bedroom houses for wildly different prices. It's different in the UK (speaking generally) as house price is more based on rooms, rather than square footage and things are built differently

[ha_banos]

Sorry but the design and architecture are awful. Couldn't find the cigar room browsing around the video for a few moments. Maybe it's a money laundering project?

Brings to mind...

[dominattorney]

Money cannot buy taste. 

[La_Tigre]

Hoity Toity Museum

[Ej456]

hot take

[Woody Hayes]

I bet you'd pay 10,000 a month just to clean the windows.

[Fuzz]

12 minutes ago, Woody Hayes said:

I bet you'd pay 10,000 a month just to clean the windows.

Kinda like yachts. Whatever the original purchase price is, 10-20% of it will be spent on upkeep per year.

[NSXCIGAR]

Is it just me or do Segways seem to immediately transform the rider into a douchebag?

Anyway, apparently this property did go for $126 million at auction and believe it or not that's actually a very good deal. I don't think there's a lot or parcel like it anywhere in Bel Air and the home itself is massive--the third largest home ever built in the US. The Playboy Mansion sold for $100 million 4 years ago and the market is much higher now and Bel Air is more desirable than Holmby Hills.

You could not get a comparable property in Bel Air for less than $100 million and that lot is one of a kind and on paper the home itself is far superior to any. I would guess in normal market conditions the home would never be worth less than $125 million. 

 

[Bijan]

3 hours ago, NSXCIGAR said:

Anyway, apparently this property did go for $126 million at auction and believe it or not that's actually a very good deal. I don't think there's a lot or parcel like it anywhere in Bel Air and the home itself is massive--the third largest home ever built in the US. The Playboy Mansion sold for $100 million 4 years ago and the market is much higher now and Bel Air is more desirable than Holmby Hills.

It's a question of what the lot/land is worth.

As @Kitchen said anyone with enough money to buy such a house wants to build it to their exact wants and needs and not buy someone else's idea of a dream home.

[dominattorney]

13 minutes ago, Bijan said:

It's a question of what the lot/land is worth.

As @Kitchen said anyone with enough money to buy such a house wants to build it to their exact wants and needs and not buy someone else's idea of a dream home.

It's true. My wife and I are on a (substantially scaled down) hunt for our 5,000 square foot + coffin. You couldn't be more spot on. We are probably just buying a nice piece of acreage with a view of pikes peak rather than spring for what someone else's idea of a dream home looks like (I kid you not we saw one with periwinkle walls).  Sit on it long enough to get up the funds to build. On a side note I'll have a nicer cigar room when all said and done. Nice 400 square foot office with accompanied sitting area adjacent to the back patio with wall to wall glass and mountain view. Cut off from the rest of the walkout basement by a 10 foot high 12 foot long glass panel door that slides into the wall. Crossing our fingers the lot sale goes through.